Goodluck India reported a significant increase in its fiscal fourth-quarter profit, which rose by 33.1% to Rs 37.22 crore, compared to Rs 27.96 crore in the corresponding quarter of the previous financial year. This growth is attributed to robust demand across its diverse product portfolio. The company’s revenue from operations also saw a substantial increase, reaching Rs 902.49 crore, up 18% from Rs 764.55 crore during the same period last year. The company’s earnings before interest, taxes, depreciation, and amortization (EBITDA) stood at Rs 66.3 crore, reflecting a 14.5% year-on-year growth.
The board of Goodluck India had previously declared two interim dividends totaling Rs 5 per equity share of Rs 2 each for the financial year 2023-24. In addition, the company has now declared a final dividend of Re 1 (50%) per equity share of Rs 2 each for the same fiscal year, amounting to a total dividend declaration of 300% for FY 2023-24.
For the full year ending March 31, 2024, Goodluck India’s net profit surged by 50.22%, reaching Rs 130.54 crore, compared to Rs 86.90 crore in the previous year. Revenue from operations for the entire year grew by 14.74% to Rs 3524.78 crore, up from Rs 3072.01 crore in 2022-23.
MC Garg, Chairman of Goodluck India, commented on the performance, stating, “In spite of adverse geopolitical conditions and tough market conditions, the company has succeeded in achieving growth by reshuffling the product mix and the market mix. The demand growth has been robust overall, which has helped shore up our volume sales. We have also been witnessing a good demand from the value-added segment, which has contributed to higher margins.”
He highlighted the company’s recent achievements, including the supply and fabrication of steel bridges for the high-speed bullet train project. Garg expects continued demand for critical steel bridges in India, supported by the government’s recent proposal to initiate feasibility studies for bullet train corridors in North, South, and East India.
Goodluck India is optimistic about growth prospects in the defense and aerospace sectors. To reduce India’s dependence on imports in these industries, the company has established a subsidiary, Goodluck Defence and Aerospace Private Limited. The new facility for the defense and aerospace industry is progressing as planned.
In a strategic move to support its working capital requirements and general corporate purposes, Goodluck India recently raised close to Rs 200 crore through the Qualified Institutional Placement (QIP) route. This financial infusion is expected to bolster the company’s growth trajectory and operational capabilities.
